SECTer September Newsletter

State of the Connecticut Economy
The Connecticut Business and Industry Association (CBIA) held its Annual State of CT Business Forum on September 6. Joan McDonald, the recently appointed Commissioner of DECD, was the keynote speaker. At the conference CBIA and Blum Shapiro presented their 2007 “Survey of Connecticut Businesses.” A copy of this survey is available on the CBIA web site for members. Non-CBIA members may contact seCTer for information on the survey results. 860-437-4659 ext.202.

seCTer Web Site Consultant Chosen
Following presentations by several candidates, the Southeastern Connecticut Enterprise Region (seCTer) selected Caffeine Interactive of New Haven to rebuild and redesign the organization's web site. Caffeine's numerous other clients include Bradley International Airport, Connecticut Innovations, BIC Corporation and the Berkshire Visitors Bureau.
In 2006 seCTer was awarded an Excelerator Grant from the AT&T Foundation, and the Governor’s Commission for the Diversification of Southeastern Connecticut allocated additional funding towards this important project. "The support of AT&T and the State of Connecticut, added to seCTer's own resources, will allow us to re-create our web site, making it more interactive and useful for attracting, retaining and growing businesses in the area," said John Markowicz, seCTer's Executive Director. He added that the Web Site Committee was unanimous in their choice of Caffeine to manage this project.
The web site is scheduled for launch in late October.

Incumbent Worker Training Available from EWIB
The Eastern CT Workforce Investment Board (EWIB) announced that funding is available from the organization for incumbent worker training. The Program provides business with the resources to invest in the region’s workforce, improve employee skills, and to maintain the economic strength and viability of the region’s businesses. The program’s major focus is on small to medium-sized manufacturing/distribution and healthcare businesses that would not be able to make this investment without assistance. Training funded by the program must address at least one of the following priorities:
• Projects that will result in demonstrable job retention, job growth or increased wages.
• Projects where training would make a difference in the company's productivity,
Competitiveness, and ability to do business in Connecticut.
• Projects the company itself is willing to invest in and can articulate how it fits into the
Company’s business plan.

Applications for this funding must be received by September 21. For more information visit the EWIB web site.

Worker Needs Changing
The Federal Reserve Bank of Boston has published a Working Paper “Population Aging, Labor Demand, and the Structure of Wages,” discussing issues of interest to all businesses, including those in Southeastern CT. You may read it by clicking on title above.

Loan Program News
Paul Brindamour takes position at Mitchell College
Paul Brindamour, who has led the Loan Office of seCTer for 10 years recently assumed a position as full time professor in the Business Department at Mitchell College. Mr. Brindamour was one of the principal founders of the Mitchell College Center for Entrepreneurship in 2006 and continues to work with the group on assisting new business start-ups in New London County.
Over the course of his seCTer tenure, Mr. Brindamour oversaw an average of 50+ loan applications annually, of which over 10% were successfully funded. Mr. Brindamour was available to businesses for advice on financing strategies to start or grow their businesses and to attract new businesses to Southeastern CT. The seCTer Loan Programs are available when banks are often unwilling or unable to fund higher risk loans, and seCTer loans are usually available at or below market rates. During his ten years with seCTer the program led by Mr. Brindamour loaned over $18 million to businesses in the region, supporting or creating over 1525 jobs. Paul’s leadership of the loan program will be missed, but he will continue on as a Consultant to seCTer for the foreseeable future.

Annie Chambers joins seCTer as Director of Loan Programs
Ms. Annie Chambers, formerly Vice-President of Commercial Lending for the Bank of Southeastern CT, and prior to that Assistant VP of Commercial Lending at the Eastern Federal and Dime Banks, has joined seCTer as the Director of Loan Programs.
Annie will fill the position vacated by Paul Brindamour. Annie’s long and varied experience in the business community in Southeastern CT and in commercial lending will serve her well in managing seCTer’s multi-million dollar loan portfolio and in assisting small businesses to expand in the region. She may be reached by email at achambers@secter.org, or by calling 860-437-4659, ext. 204

Upcoming Economic Development Events – Seminars-Forums
The fall has arrived, and the season for seminars, forums and educational opportunities is upon us. We encourage members of the Economic Development Community to take advantage of any of these upcoming opportunities to learn more about your business and to network with colleagues. Click on name of event for complete information and registration.

Procurement Technical Assistance Program (PTAP) News
The PTAP staff continues its extensive involvement and training with businesses, assisting them in obtaining and administering government contracts. They encourage state businesses to visit their web site to learn more about the program, or to call Director Brien Robertson at 860-437-4659, ext. 208. The program welcomed a new counselor, Scott Reynolds who will be working from the Waterbury office. Scott comes to CT PTAP after retiring as the Director of Purchasing at the University of North Carolina.
Mr. Robertson announced the schedule for fall educational series at Manchester Community College and Gateway Community college, where PTAP will be presenting four seminars: Government Contracting 101; Doing Business with the State of CT and 169 towns; Tips for Proposal Presentation; and Presenting Oral Proposals. More information is available by clicking here.
  Mr. Robertson will also present a seminar on government contracting at the IEEE CT Network of Consultants in Newington on Sept. 18. The PTAP staff will be attending the Association of Procurement Technical Assistance Programs (APTAC) Conference in Washington DC in October. This is an event in which the 93 national PTACs come together for several days of training on federal contracting. They will also be attending local community events throughout the State including events in Bridgeport and lower Connecticut and the Department of Defense (DOD) Northeast Regional Council Small Business Matchmaker in Nashua, NH in October. This event attracts approximately 100 government agents and prime government contractors that meet with small businesses. We will be hosting a similar event in May 2008.

Business Development
The Mystic Chamber of Commerce and Mitchell College Center for Entrepreneurship announced upcoming workshops for the fall. All sessions are held at the Mystic Chamber, 14 Holmes Street in Mystic, at 9:00am. Make reservations by calling 572-9578. The cost is $25 or $20 for Mystic Chamber members. Courses will be repeated throughout the year, so if you do not see an available date, please call 572-9578 for more information. Directions to Mystic Chamber.

Starting a Business in Connecticut
October 17 -- 9:00-11:30AM and November 14 -- 9:00-11:30AM
Get the essential facts for anyone considering starting a business. Topics include the traits, skills and resources necessary to be an entrepreneur, legal forms of business, taxes and regulations, accounting, insurance, how to obtain financing, and how to buy a business or franchise.

Creating and Executing the Business Plan
October 24 -- 9:00-11:00AM
This workshop demonstrates how to set and achieve goals by using proven planning techniques. The process of planning throughout the business lifecycle is discussed. Attendees will be given planning and financial projection tools.

Creating and Building a Brand
November 7 -- 9:00-11:00AM
Your brand can and should be one of your businesses most valuable assets. Learn how to build your brand and put it to work for increased profit and growth. Creating a good brand name and protecting it will be covered.

Financing Alternatives for Small Business
November 28 -- 9:00-11:00AM
Paul Brindamour will discuss the many traditional and non-traditional sources for business financing, the procedure for loan application and qualifications necessary to successfully obtain a business loan.